How Much Does It Cost to Rent a Store in the Mall?
Storefront spaces on Peerspace cost anywhere between $40 — $250 per hour.
Are you looking to launch a memorable pop-up or retail experience? Finding the perfect space can be a daunting task with so many unknown variables — and one of the first important questions that will arise is, “How much does it cost to rent a store in the mall?”
Luckily, you’ve come to Peerspace, the largest online marketplace for hourly venue rentals. We offer access to one-of-a-kind spaces in thousands of cities and towns across North America and beyond. And yes, this includes fabulous retail spaces and venues you may never have realized would make sensational mall store alternatives.
Ahead, we’ll discuss how much it costs to rent a mall store, the alternatives we just discussed, and how to go about renting one.
First of all, does location matter?
Absolutely! Temporary retail experiences are all about getting the right location where customers will engage with your product or service. However, many malls make you go through hoops to find out the prices for the best available stores. Therefore, considering alternative locations to make your target shoppers feel comfortable in a post-pandemic world is crucial.
Luckily, you have Peerspace, the largest online marketplace for hourly venue rentals, including — but not limited to — retail space! Check out our platform to rent retail space for your event. You can rent actual retail space or something a bit more unique that you can dress up to suit your needs, like a warehouse, loft, gallery, and more.
We’ve compiled information on what rental spaces in the mall have to offer, as well as an estimate of what it costs to rent one. We’ll also offer some alternatives to mall spaces that include charming cafes, bright art galleries, and so much more that you can book with ease on Peerspace.
Dreaming of your own pop-up shop experience? Then you need to also read our 12 creative pop-up shop ideas next!
Why do people rent stores in the mall?
Although malls are not as popular as they once were, the shopping centers are still a hub for shoppers to peruse their favorite stores and discover new ones. There are many reasons why someone would want to rent a store in the mall — whether it be to open a boutique, provide services, or entertain.
Pop-up shops and retail experiences are other growing areas for malls and rental spaces. Companies want to create unique experiences that aren’t like a traditional brick-and-mortar store. These short-term events can give brands of all sizes and budgets a chance to launch. Doing so, they enter a physical market in a city or country they haven’t had a presence in yet.
Small businesses that specialize in local, artisanal products benefit from introducing their products in an established setting. The temporary shops can create exciting buzz on social media and draw new customers to your company.
Other factors to consider when looking to rent a store in a mall
Although cost is a major factor in choosing a rental, you should also consider your audience. Different people prefer a mall setting vs. other types of retail locations. For example, a shop that’s near popular bars, restaurants, and things to do could fare better among your target market than in a dusty mall.
Lots of consumers also prefer supporting small local businesses as opposed to mega brands. If you want to appeal to this type of shopper, setting up shop in the mall may not serve you well.
Also, most malls do not disclose their pricing and just provide square footage and other popular surrounding businesses near one of their rental spaces. This, understandably, can be a red flag to a lot of small business owners. It may behoove you to book a space that offers a cleaner, more boutique setting to attract and delight your customers.
But are more modern, stylish, and less distracting venues for your retail experience than a renting a store in a mall? You bet! You can use a platform like Peerspace to rent any type of venue you can dream of in cities across the globe.
Besides mall spaces, why not try other unique rental spaces like cafes, art galleries, renovated warehouses, or modern storefronts to give your retail event a special flare?
How you choose the type of space best suited to your needs depends on several factors. It’s especially crucial to consider the type of space in relation to your brand, your products, and your ideal shopper.
For instance, if you own a high-end self-care brand that caters to customers who want natural products, setting up shop in an area of your city where there are lots of spas and boutique shops is wise. Conversely, if your product is hip and geared towards people in their early twenties, renting a renovated warehouse that is gritty yet exciting can be fruitful.
We’ll include some fun suggestions later in the article to give you an idea of what’s out there besides space in a mall. But next, we’ll continue answering the primary question: “How much does it cost to rent a store in the mall?”
How much does it cost to rent a store in the mall?
It’s difficult to give an exact answer when answering, “How much does it cost to rent a store in a mall?” Rent prices typically vary based on location and the size of the space.
Many malls charge by square foot with a range of $18 to $30 and up per square foot. You’ll have to first inquire about shorter-term leases and then figure out what each mall charges in terms of fees, insurance, and deposits.
For example, the Mall of America — one of the largest malls in the world and located in Bloomington, Minnesota — charges a base rent of $2,500 to $9,000 per month.
Factors that affect pricing
The amount a mall charges for rental space depends largely on the time of year. Due to the holiday season, November and December are the most expensive time of year to rent a store in most malls.
Keep in mind that many malls will charge higher rents to be near popular department stores or retail stores, like Apple. Of course, you want the highest amount of foot traffic, but it’s definitely going to cost you in a mall setting.
Some estimates say that the cost of hosting a pop-up shop is around $15,000 to $30,000. Then, you need to add in the cost of renting or buying furniture, utilities, and other miscellaneous costs. Interestingly, experts note that temporary retail spaces are expected to cost the least from 2021. So if you’re thinking of renting a temporary space as a mall store alternative, now is your time!
Ahead, we’ll share how Peerspace is the best way to do so.
Rent a store in the mall with Peerspace
Finding a retail space for your pop-up can be super challenging. Don’t you ever wish there was a place that listed every option in your city?
Well, luckily something just like that already exists! Instead of renting through a large mall, go local and rent from one of the many hosts on Peerspace. As we mentioned, Peerspace is the world’s largest online marketplace for hourly production, meeting, and event spaces.
Types of spaces available to rent
Peerspace has so many retail storefronts, restaurants, and shops available to rent in thousands of cities across the country and globally. Plus, prices and amenities are upfront, so you won’t have to go through phone call after phone call with different salespeople. It’s a true time-saver, which is exactly what you need as a business owner.
In addition, Peerspace can help you narrow down what you’re looking for with location and amenity search filters. Look through the assortment of photos, see what kind of equipment is included in the rental, and get direct contact with the host of the property.
For example, check out this renovated loft-like storefront and kitchen in Chicago’s Lincoln Park neighborhood. It is a popular rental for those looking to host art shows or pop-up experiences. The space comes with high ceilings, plenty of natural light, hip neighboring bars and restaurants, and a kitchen.
With more than 1,000 square feet of space at your disposal and a $125 per hour price tag, you can hold the retail experience of your dreams without busting the bank on rent and overhead charges.
Along with upfront pricing, Peerspace listings also include real, honest reviews from professionals just like you. Such reviews can provide a clearer picture of if the venue is as great as it reads or if another place may suit your needs better.
For instance, check out this shining review on the aforementioned Chicago space, one of the hundreds of five-star reviews:
“Hosts were great communicators. Space was exactly as advertised. Great space for casual meeting with space to get up and move around. Having the kitchen area was extremely convenient. Would definitely recommend!”– Gabi H.
Since each Peerspace is owned and operated by a local host who is just a quick message away, you can consult them with any requests or questions. They want your time in their spaces to be perfect and can often help you secure event extras, like catering, equipment, staffing, and more.
Also check out: How much does it cost to rent space in a mall food court?
Can Peerspace help me?
Yes! First of all, consider what a distinct setting courtesy of Peerspace can mean to your event. You’ll forge a better connection with the local community while creating a business in a unique space that’s unlike any mall. And that’s exactly what’s available on Peerspace, stylish and spacious venues that you can rent by the hour from local hosts.
Plus, many Peerspace rentals include discounts for renting for more than a few hours. It’s this type of flexibility that is valuable to businesses of all sizes. Browse Peerspace and see what’s near your desired location! Be sure to check out the space’s high-def photos, detailed descriptions provided by the local host, and reviews written by past renters.
And remember, if your chosen venue is short of anything, remember to contact the space’s local host.
Our favorite Peerspace mall store alternatives
By now, you’re probably ready to scope out some of the best mall alternatives you can rent through Peerspace. And we’re happy to provide!
Let’s take a deeper dive and check out some venues in cities across the country and beyond!
These mall store alternatives include:
- This Midtown flexible meeting space in Manhattan, NYC (pictured above) with space for 45 that’s $60 per hour with an open layout, a small kitchen, tables, chairs, and optional breakout space
- This creative storefront with lots of natural light in Los Angeles with space for 50 guests, tables and chairs, speakers, and a price tag of about $70 per hour
- This crisp, blank-slate storefront gallery in Toronto, Canada with space for 80 people, an open layout, LED lighting, and an outdoor courtyard, all for about CA$100 per hour
- This classic downtown storefront with natural light exposure in Atlanta, GA for 10 guests, minimal decor, and that costs about $55 per hour
- This chic light-filled storefront in Center City, Philadelphia, PA for 20 people with two hair and makeup stations, tables and chairs, and that costs about $50 per hour
- This industrial retail space with a mezzanine in London, England for 30 people with tables, chairs, speakers, an industrial ambiance, and that costs about £125 per hour
As you can see, it’s possible to use Peerspace to find a wide variety of spaces across the globe with different styles and price points.
You can use the Peerspace search engine to narrow down results in your desired location that suits your budget, size, and needed amenities. That way, your search results only include retail spots that suit your personal criteria.
Want to serve your guests some tasty bites? Then be sure to check out how and where to rent a commercial kitchen to enhance your store!
How much does it cost to rent a store in the mall? Conclusion
Finding out the answer to “how much does it cost to rent a store in the mall?” can be time-consuming and exhausting. We hope we have helped you understand the costs of renting a store in the mall and how Peerspace can be an easy, fun, and cost-effective alternative to better fit your needs.
The venues we mentioned above are only the beginning, though! Click the link, enter your location or destination, and see all the incredible options for yourself.
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